SAP FOR PENSION FUND OPERATIONS:
Implemented SAP's robust financial modules to streamline pension fund management, focusing on daily closing processes, regulatory compliance and efficient fund administration.
CUSTOM INTEGRATIONS:
Developed bespoke interfaces to connect SAP with external systems like Payhawk and payroll softwares, ensuring seamless data exchange.
Doverie, a Pension Fund company within the Vienna Insurance Group (VIG), aimed to enhance its operational efficiency by implementing SAP Insurance solutions, specifically focusing on the WSV (Insurance Policy Coverage) transactions.
Facts about
Doverie
:
insurance group in Europe
customers served
stable outlook credit rating
Localization Requirements:
Adapting the SAP system to comply with Bulgaria's VAT regulations and reporting standards mandated by local public government institutions.
Integration Needs:
Seamlessly connecting the SAP system with various interfaces, including Payhawk, payroll systems, and core insurance platforms.
Pioneering Implementation:
As the first VIG entity to implement this system for both its Pension Fund and Assurance operations, Doverie needed to establish a blueprint for future rollouts within the group.
vAIsko IT partnered with Doverie to deliver a comprehensive SAP implementation tailored to its specific needs. The key components of the solution included:
SimCorp Implementation:
Configured the SAP system to effectively manage Investments Policy Coverage transactions, ensuring accurate policy administration and compliance with IFRS 9.
Localization for Compliance:
Customized the SAP environment to align with Bulgarian VAT laws and facilitated the generation of reports required by local government institutions, ensuring full regulatory compliance.
Interface Integration:
Developed and deployed seamless integrations between SAP and external systems such as Payhawk, payroll softwares, and core assurance systems, ensuring smooth data flow and operational coherence.
Stakeholder Collaboration:
Worked closely with Doverie's internal teams and VIG's central IT department to ensure alignment with group standards while addressing local operational requirements.
Stakeholder Collaboration:
Coordinated with local and regional teams to ensure alignment of business processes and successful adoption of the new system.
Blueprint Development:
Established a scalable implementation framework that can be utilized by other entities within the Vienna Insurance Group, facilitating future deployments.
Through this collaboration, Doverie realized significant benefits:
Regulatory Compliance:
Achieved full adherence to Bulgarian VAT regulations and met all reporting obligations to local government bodies.
Operational Efficiency:
Streamlined processes through effective integration of various systems, reducing manual interventions and minimizing errors.
Enhanced Data Accuracy:
Improved data consistency and accuracy across all integrated platforms, leading to better decision-making and reporting.
vAIsko IT's expertise in SAP implementations and deep understanding of the insurance sector enabled Doverie to achieve a successful deployment, enhancing its operational capabilities and setting a benchmark within the Vienna Insurance Group.
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Let's talkvAIsko IT is a specialized SAP consulting firm, dedicated to helping businesses unlock the full potential of SAP.
Our expertise lies in SAP FICO for financial management and SAP RE-FX for real estate and asset management, empowering companies to streamline operations, improve financial efficiency, and ensure compliance with standards like IFRS 16.